The two largest pensions are worth nearly HUF 1.5 billion (EUR 4800)
According to metropol.hu, while the average pension is HUF 108 thousand (EUR 350), 167 people get more then HUF 500 thousand (EUR 1600) a month.
Although the amount of the Hungarian average pension was HUF 107 874 (approx. EUR 350) in this November, more than half of the stakeholders – 1.1 million people of the little over 2 million old-age pensioners – live of less than HUF 100 thousand (EUR 322).
Quite many, 871 thousand people get HUF 100-250 thousand (EUR 322-806), they live on HUF 142 thousand (EUR 458) on average. A much fewer people, 33 thousand have a pension worth between HUF 250-500 thousand (EUR 806-1600), and there are only 167 pensioners who get a pension above 500 thousand forints.
Two people receive a provision above HUF 1 million (EUR 3225), and even though, according to the January data, the richest Hungarian pensioner got HUF 1.3 million (EUR 4190), the latest November data shows that the two richest Hungarian pensioners possibly receives an average of HUF 1 458 680 (EUR 4700).
Conditions for high pensions
High income: an income that reached or approximated the upper limit of contribution payment from 1992 March until the end of 2012, or a very high income between 1988-1992 and after 2013 (in fact, that time, and ever since, the upper limit of contribution payment has not been in effect).
High service time: after 40 years, pension amount becomes 80% of the income, which increases 2% per year, up to the maximum of 100%.
The postponement of retirement: the postponement of retirement, when the retirement age is reached, and additional seniority increases the amount of the pension by 0,5% per 30 days (ie 6% per year). For example, the retirement 7 years after the retirement age, and a steady period of service during that, means a 42% increase.
based on the article of metropol.hu
Copy editor: bm